Duties and Reporting
The manager of an alternative investment fund under the registration regime (sub-threshold manager) must continuously comply with the registration conditions of Section 2:66a of the Financial Supervision Act. If the sub-threshold manager does not or no longer meet the exemption conditions (indicated at the time of registration), the sub-threshold manager is subject to a licence requirement.AIFMD reporting obligation
These are:
- Submitting the manager's annual AIFMD report
- Submitting the annual AIFMD report of the AIFs under management
The legal obligation to provide AIFMD reports exists from the first quarter after the effective date of an AIF(M), and lasts up to and including the last reporting period in which an AIF(M) is active. The reporting period for AIFM registration managers will always be for the entire year.
As an example, an AIF(M) with an effective date of 1 January 2020, an end date of 1 January 2021 and an annual reporting frequency must provide the following AIFMD reports: X2-2020 (for the period 1/1/2020-31/12/2020) and Y1-2021 (for the period 1/1/2021-31/12/2021). The AFM uses the date of registration and deletion from its register as the effective date and end date. You can avoid being unjustly imposed a reporting obligation by deregistering the AIF(M) in question in the AFM Portal in a timely manner.
In addition, the AFM, together with ESMA, periodically checks the data quality of the submitted reports in the context of the Data Quality Engagement Framework. This DQEF audit checks the last submitted report of the calendar year (Q4, H2, Y1 or X2) and takes place annually in April, June, and October. You may then receive a request to submit a re-report. More information about this can be found in this sector letter.
| Reporting period | End date | Deadline for delivery of manager/fund | Deadline for fund-of-funds |
|---|---|---|---|
| Reporting period Full year | End date 31 December | Deadline for delivery of manager/fund January 31 | Deadline for fund-of-funds 15 February |
File format of the reports
The AIFMD reports must be submitted in XML format, any other format will not be accepted. It is important that you submit a separate XML file for each reporting obligation that is open in the AFM portal containing only the data for that obligation. This can be a report for the manager or each individual fund, where each sub-fund counts as an individual fund.